AfDB investments in Africa hit a record Shs40 trillion

The African Development Bank Group (AfDB) has invested more than US $10.80 billion (about Shs39.6 trillion) worth of projects and programmes in Africa during the year 2016 through the roll-out of its High-5 priorities and the new Development and Business Delivery Model.

According to the group’s Annual Development Effectiveness Review 2017 released recently during an annual meeting in Ahmedabad - India, the projects have created 1.6 million jobs for Africans in 2016, particularly benefitting youths and women.

Operations in 2016 rose to 305 up from 241 operations in 2015. The operations are core contributions to the implementation of the bank’s High-5 priorities (Light up and power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the quality of life for the people of Africa) and the bank’s agenda to “transform Africa.”

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